The government has initiated the process of identifying housing projects that are stuck throughout the country as part of its efforts to assist distressed homebuyers by ensuring timely delivery of such projects. The Union Ministry of Housing and Urban Affairs (MoHUA) has instructed the chief secretaries of all states and Union Territories to provide the necessary information regarding halted projects in their respective jurisdiction.
In April, the ministry established a 14-member committee led by Amitabh Kant, the former CEO of NITI Aayog and India's G-20 sherpa, to comprehensively examine stalled real estate projects and propose corrective measures to fulfil the aspirations of homebuyers. In May, Hardeep Singh Puri, Union Minister of Housing and Urban Affairs, stated that this committee is working diligently and will present its recommendations to expedite the completion of these projects.
Back then, Puri stated, “I would suggest that this committee expeditiously provides their recommendations, and all stakeholders should fulfil their responsibilities promptly so that these projects can be completed without further delay, allowing the long-awaiting buyers to finally receive their homes.”
In response to the ministry's directive, state governments have reached out to homebuyers' associations to gather additional details, supplementing the information already possessed by the authorities.
Abhay Upadhyay, the President of the Forum For People's Collective Efforts (FPCE), emphasized the importance of this exercise, stating, “This is a much-needed initiative as it will help compile comprehensive data on stalled projects nationwide. Having clear and up-to-date data will facilitate the development of a better action plan and strategy to provide relief to distressed homebuyers by ensuring the delivery of their apartments.”
We hope that all state government will sincerely strive to identify and locate each stalled projects so that all affected homebuyers can be supported. He also emphasised on that homebuyers now have an opportunity to assist the government in resolving issues related to their stuck projects by contacting their respective state governments, home buyers’ associations and the appropriate Real Estate Regulatory Authority (RERA) authorities.
